The straight line
Cooperatives: What We’ve Seen in 2023 – Jim English, CPA, Partner
BETTER THAN EXPECTED! Time and time again, that was the response when asking coop managers and board members about the 2023 harvest. I think the same can be said when discussing the financial years of our cooperative clients.Many had a bleak outlook when their 2023 fiscal year started, struggling to budget a local income in...
keep readingBusiness Interest Expense Limitation – Time to Take It Seriously
Robert Bell, CPA, Tax Manager I’ve written about the provisions under IRC 163(j) before, but now is the time to take it seriously. Businesses are limited to the amount of interest expense they are allowed to deduct for tax purposes to 30% of Adjusted Taxable Income (ATI). The ATI calculation used to allow for the...
keep readingNavigating Asset Acquisitions with Potential Business Interest Limitations
Matt Gardiner, CPA, CFE, Audit Manager When it comes to building and acquiring new assets for your business, there are several avenues to consider in order to finance the costs: you can either borrow funds to purchase the asset from your lender, or you can finance the asset through a leasing arrangement. Each method of...
keep readingAudit and Reporting Standards
Dennis Gardiner, CPA, Managing Partner Our audit staff have been busy addressing many of the new standards that are now effective, or will be soon. The big reporting standard has been FASB ASC 842 Lease Accounting. You should all be aware by now of the requirement that leases longer than 12 months be recorded as...
keep readingCybersecurity
Matt Gardiner, CPA, CFE, Audit Manager For organizations lacking dedicated IT departments or comprehensive controls and risk assessments, cybersecurity threats are a growing concern. As organizations increasingly rely on digital technologies for data-driven decision making, member-relations, and supply chain operations, the potential for a cyber attack grows significantly. Without adequate cybersecurity measures in place, your...
keep reading